Need to Sell 21 Unit Apartment Building - in Edmonton

[Shane Melanson]

I'm looking to sell my 21 unit apartment building in Edmonton AB and wanted to see if there was a broker or agent that someone here would recommend (in Edmonton Alberta).

I have interviewed the big shops, AY, CB, JLL etc (I have worked at many of them) and I don't believe they are the right person for the job.  Would like to find a hungry agent, who's going to role up their sleeves and market and sell the property.

Willing to sell direct, if a buyer came direct.  But, because I'm not in Edmonton and would prefer to find someone who has the connections with smaller mom & pop investors who like fixer upper properties.  Not being local, has led to struggles on property management and hence someone local could take over and turn the property around.

High level: $2,205,000 (21 units) - $105,000/door (less than we paid for it in 2013 and we invested more than $250k in renos).

Avg rents are $820/month (20-1s and 1-2bed).

Close to NAIT and new LRT station

Going in Cap (on stabilized, we had higher vacancy in the past year) - 5.5% cap.

For the right investor, who lives in Edmonton, this would be a great value add play.  

If you know an investor, or a broker who is interested, please contact me.

thanks,

Shane